India's Minister of State for Electronics and Information Technology, Rajeev Chandrashekhar, has said that the ministry will ask the GST Council to reconsider the decision to impose a 28% tax on funds collected by online gaming companies
Read MoreSource: https://taxguru.in/goods-and-service-tax/live-webinar-gst-audit-assessment.html
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Read MoreNEW DELHI : The government is at an advanced stage of formulating a new piece of legislation to offer investors ready approvals for all requirements and replace the special economic zones (SEZ) Act and non-tax measures remain the preferred route for promoting new investments in the country, revenue secretary Sanjay Malhotra said in an interview.
Read MoreThe industry said the new tax could hinder the Digital India Initiative and prime minister's vision, potentially leading to an increase in black market activities and criminal offences
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Here's the best of our journalism from this week, organised into our top 5 themes:
The scheme will authenticate the applicant with Aadhaar and biometrics using special devices, Central Board of Indirect Taxes and Customs (CBIC) chairperson Vivek Johri said
Read MoreSource: https://www.livemint.com/auto-news/compensation-cess-and-your-uv-buying-plans-11689271331662.html
If you are planning to buy an SUV (sport utility vehicle) or MUV (multi-utility vehicle) the GST Council’s decision to change the definition of UVs that attract a compensation cess of 22% may have implications. Mint explains the changes and the impact on buyers.
Read MoreSix out of seven clients closed their large derivatives positions in Delta Corp. after the Indian GST Council raised GST rates on gaming and casinos.
Read MoreEvery Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. North India has been battered by rains this week. The revised indirect tax rules on online gaming are likely to choke the industry. Retail inflation rose more than expected in June. A new global poverty report indicated some cheer for India.
Read MoreNEW DELHI : Goods and services tax (GST) authorities will attempt to recover the tax demands made to a few online gaming platforms, including Gameskraft Technologies Pvt. Ltd only after the Supreme Court (SC) gives its final verdict on the tax dispute, Central Board of Indirect Taxes and Customs (CBIC) chairperson Vivek Johri said in an interview.
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